Bean Factory

Analysis

Bean Factory is a registered charity in United States, based in Denver, CO. It received its IRS tax-exemption ruling in July 2021, 5 years ago. Its declared purposes cover employment, which this site groups under community and economic development. The IRS classifies it as a supporting organisation (type iii functionally integrated) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Bean Factory reported income of $70k and spending of $265k, spending 378% of what it took in. Across the 3 years on record, from June 2022 to June 2024, income fell from $142k to $70k (-51%), an average of -30% a year. The sharpest change came in the year to June 2023, when income dropped by 51%. Over the whole period it spent 212% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Bean Factory sits at the 27th percentile: it is larger than about 27% of them. Against every charity in United States with reported income it ranks in the 28th percentile, and in the 24th percentile within CO. Charities of a similar size with the same main cause include Niobrara Valley Development Corporation ($70k), Greater Mankato Growth Inc Foundation ($70k) and Sunrise Rotary Club of Yakima Charities ($70k).

At year end it held assets of $6.1m against liabilities of $6.5m, net assets of -$316k. It reported 1 employees.